Eric Trump-backed defense tech firm Space-Eyes goes public via $638M SPAC merger
Space-Eyes, a Miami-based AI-powered counter-drone and geospatial intelligence company, agreed to go public through a merger with SPAC McKinley Acquisition Corp, valuing the combined entity at $638 million. Eric Trump, son of U.S. President Donald Trump, is the third-largest private investor and will serve as strategic adviser. Despite only ~$1 million annual revenue, the company targets larger government contracts, including potential $35 million deals. The transaction, providing up to $251.7 million in proceeds, is expected to close in Q4 2026.
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Space-Eyes Confirms $638m SPAC Merger with McKinley Acquisition
Space-Eyes, a provider of AI-driven geospatial intelligence and counter-drone systems, has entered into a definitive business combination agreement with McKinley Acquisition Corp. The deal, approved by both boards, is expected to close in the fourth quarter of 2026, subject to regulatory and shareholder approval. The merged entity will operate as Space-Eyes, Inc. and plans to list on Nasdaq under the ticker 'CUAS'. The transaction values Space-Eyes at a pro-forma equity value of $638 million and an implied enterprise value of $370 million. McKinley has secured up to $75 million in private investment (PIPE), with an initial $5 million tranche. Notably, Eric Trump, son of US President Donald Trump, has become the company's third-largest private investor and will serve as a strategic adviser. Space-Eyes, previously focused on R&D with annual revenues around $1 million, aims to transition to broader production contracts and market expansion in autonomous defense and geospatial intelligence.
Space-Eyes Confirms $638M SPAC Merger with McKinley Acquisition
Space-Eyes, a provider of AI-driven geospatial intelligence and counter-drone systems, has entered into a definitive business combination agreement with McKinley Acquisition Corp. The deal, approved by both boards, is expected to close in the fourth quarter of 2026, subject to regulatory and shareholder approval. The merged entity will operate as Space-Eyes, Inc. and plans to list on Nasdaq under the ticker 'CUAS'. The transaction values Space-Eyes at a pro-forma equity value of $638 million and an implied enterprise value of $370 million. McKinley has secured up to $75 million in private investment (PIPE), with an initial $5 million tranche. Notably, Eric Trump, son of US President Donald Trump, is the company's third-largest private investor and will serve as a strategic adviser. Space-Eyes, previously focused on R&D with around $1 million in annual revenues, aims to transition to broader production contracts and market expansion using its proprietary AI fusion engine, CATE AI.
Space-Eyes Confirms $638m SPAC Merger with McKinley Acquisition
Space-Eyes, a provider of AI-driven geospatial intelligence and counter-drone systems, has entered into a definitive business combination agreement with McKinley Acquisition Corp. The deal, approved by both boards, is expected to close in the fourth quarter of 2026, subject to regulatory and shareholder approval. The merged entity will operate as Space-Eyes, Inc. and plans to list on Nasdaq under the ticker 'CUAS'. McKinley has secured up to $75 million in private investment (PIPE), with an initial $5 million tranche upon filing a registration statement. The transaction values Space-Eyes at a pro-forma equity value of $638 million and an implied enterprise value of $370 million. Notably, Eric Trump, son of US President Donald Trump, has become the company's third-largest private investor and will serve as a strategic adviser. Space-Eyes, previously focused on R&D with annual revenues of around $1 million, aims to transition to broader production contracts and market expansion using its proprietary AI fusion engine, CATE AI, for drone detection and geospatial intelligence.
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Eric Trump-backed defense tech firm Space-Eyes to go public via $638 million SPAC merger
Defense technology company Space-Eyes has agreed to go public through a merger with SPAC McKinley Acquisition Corp, valuing the combined entity at $638 million. Eric Trump, son of U.S. President Donald Trump, recently became the third-largest private investor in Space-Eyes and will serve as a strategic adviser post-merger. The Miami-based firm develops AI-powered counter-drone and geospatial intelligence technologies for governments. Despite generating only about $1 million in annual revenue, the company is negotiating contracts worth roughly $35 million over five years, including monitoring drug trafficking in the Caribbean and defense applications in the Middle East. The deal is expected to provide up to $251.7 million in gross proceeds from McKinley's trust and a PIPE financing. The transaction is slated to close in Q4 2026, subject to approvals.
Eric Trump-backed defense technology company Space-Eyes to go public in $638 million SPAC deal
Defense technology company Space-Eyes has agreed to go public through a merger with special purpose acquisition company McKinley Acquisition Corp, valuing the combined business at $638 million. President Donald Trump's son Eric Trump has become the third-largest private investor in Space-Eyes and will serve as a strategic adviser to the combined business. The Miami-based company develops AI-powered counter-drone and geospatial intelligence technologies for governments and agencies. While currently generating about $1 million in annual revenue primarily as a research-and-development company, Space-Eyes plans to scale using third-party manufacturers and target larger government contracts, including potential deals worth $35 million over five years. The transaction is expected to provide up to $251.7 million in gross proceeds, reflecting growing investor interest in defense technology companies amid increased global spending on drone detection and AI-driven battlefield intelligence.